Ethereum (ETH) recently experienced a significant price correction, dropping approximately 15% to around $3,354 amid broad market weakness and negative macroeconomic signals. This decline, however, triggered aggressive buying from large-scale investors.
In a notable show of confidence, major cryptocurrency whales acquired over 39,900 ETH tokens, valued at approximately $143 million, within a single 24-hour period following the dip. Simultaneously, SharpLink Gaming substantially expanded its Ethereum holdings, purchasing an additional 18,680 ETH tokens worth roughly $67 million.
This large-scale accumulation by both individual whales and institutional entities like SharpLink Gaming, which now holds an ETH portfolio valued at $1.81 billion, highlights robust institutional faith in Ethereum’s long-term prospects. Analysts cite Ethereum’s strong fundamentals, ongoing network upgrades aimed at scalability and efficiency, and its potential for sustained growth as key drivers for this accumulation strategy.
The recent price correction appears to have presented a strategic buying opportunity for major players, reinforcing bullish sentiment towards Ethereum’s future trajectory despite short-term market volatility.